Illinois Administrative Code
Title 44 - GOVERNMENT CONTRACTS, GRANTMAKING, PROCUREMENT AND PROPERTY MANAGEMENT
Part 5000 - ACQUISITION, MANAGEMENT AND DISPOSAL OF REAL PROPERTY
Subpart G - SURPLUS REAL PROPERTY
Section 5000.790 - Sale of Surplus
Universal Citation: 44 IL Admin Code ยง 5000.790
Current through Register Vol. 48, No. 38, September 20, 2024
Surplus real property which is not transferred to another State agency shall be sold. No surplus property shall be sold for less than fair market value. For property valued by the Director of DCMS at more than $5,000, fair market value will be established by averaging two appraisals and adding to that the cost of the appraisals. If the property is not sold at that price, new appraisals may be requested.
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